Piper Jaffray analyst, Gene Munster, reiterated his Overweight rating on shares of Weibo Corp (NASDAQ: WB) and increased his price target to $43.00 (after Weibo posted Q2 revenue slightly ahead of the Street as it moved past the change in Alibaba spend in Q1.

The company guided Q3 up 4%. Overall, the momentum of the business remains strong with SME revenue continuing to grow over 100% y/y and key account revenue growth accelerating to 73% y/y. The analyst's thesis on WB remains intact that ad loads remain low compared to US social networks and video remains a major opportunity. Management highlighted a number of successes in video in Q2 including over 1.5 billion streams per day and 10 million live video streams. Management stated that they expect PF net margins to continue to improve over the next year,

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